Nothing done in a vacuum .May Crude Oil traded all the way down to 10.63 I don’t believe Oil has traded in Single digits for a few decades(Bloomberg Data only goes back so Far). But the drop in the future price of oil is based on many things,cash prices being one of them. Sometime I forget that there is Multiple types of Cash Crude in the world and in USA,Take a look below at a snapshot of U.S. spot Prices a few sub $10 prices,plenty of Sub $20 as well.Notice Canadian prices in upper right hand corner